The information on this page refers to ACE Group. ACE Limited acquired the Chubb Corporation on January 14, 2016, creating a global insurance leader operating under the renowned Chubb name.
ACE was established in 1985 by 34 founding sponsors to provide hard-to-find excess liability and directors and officers coverage.
Since then, ACE has evolved from a monoline excess insurer owned by its policyholders to a global publicly traded insurance company and one of the world's leading providers of commercial property and casualty insurance.
Scroll down to see some of the milestones in ACE's history or explore the ACE interactive timeline.
- ACE Limited acquires the Chubb Corporation, creating a global insurance leader operating under the renowned Chubb name.
- ACE acquires Fireman’s Fund high net worth personal lines business in the U.S.
- ACE acquires the large corporate P&C insurance business of Itaú Seguros
- ACE and a local partner acquire a majority stake in Siam Commercial Samaggi Insurance, a major general insurance company in Thailand.
- ACE opens an office in Tunisia.
- ACE acquires Mexican personal lines insurer ABA Seguros.
- ACE acquires Mexican surety lines company Fianzas Monterrey.
- ACE acquires 80% of general and personal lines insurer Asuransi Jaya Proteksi in Indonesia.
- ACE opens an office in Ukraine.
- ACE acquires New York Life’s Korea and Hong Kong operations.
- ACE expands in agribusiness with the acquisition of Penn Millers Insurance Company, begun as a fire insurer for Pennsylvania flour mills in 1887.
- ACE acquires general insurer Rio Guayas in Ecuador.
- ACE acquires the crop insurance provider Rain and Hail Insurance Service, Inc., with origins as a hail insurance bureau dating to 1919.
- ACE acquires Jerneh Insurance Berhad, a provider of comprehensive general insurance in Malaysia.
- ACE celebrates its 25th anniversary.
- ACE opens an office in Turkey.
- Brazil reinsurance acquires licenses and begins operations.
- ACE Life begins operations in Indonesia.
- ACE Limited moves its place of incorporation from the Cayman Islands to Zurich, Switzerland.
- ACE nearly doubles its Accident & Health business with the purchase of Combined Insurance Company of America for $2.56 billion, acquiring a business begun in the 1920s by insurance agent (and later, notable executive, author, and philanthropist) W. Clement Stone.
- ACE acquires the high-net-worth personal lines business of the Atlantic Companies.
- ACE opens offices in Panama.
- Evan G. Greenberg is elected Chairman of the Board of Directors of ACE Limited.
- ACE opens a non-life insurance branch in Ho Chi Minh City, Vietnam.
- ACE opens offices in Hungary and the Czech Republic and begins insurance operations in Bahrain and Peru.
- ACE enters the U.S. life reinsurance market with the acquisition of Hart Life Insurance Company.
- Brian Duperreault, ACE Chairman, retires from the company.
- ACE sells three run-off reinsurance subsidiaries to Randall & Quilter Investment Holdings Limited, an international insurance management firm.
- ACE opens an office in South Africa.
- ACE receives regulatory approvals to begin providing life insurance in China and Vietnam and commercial property and casualty insurance in Poland and Russia.
- ACE observes its 20th anniversary by hosting a Global Day of Service, during which more than 5,000 employees in 30 countries participate in community service projects.
- Evan G. Greenberg becomes President and Chief Executive Officer of ACE Limited.
- Assured Guaranty Ltd. initial public offering is completed on April 28, 2004.
- ACE announces the formation of ACE Captive Solutions to provide solutions across the multiple ACE product lines to the captive community.
- ACE Limited forms ACE Risk Management International to address the risk financing needs of major corporations.
- ACE Financial Solutions Europe and ACE Financial Reinsurance Europe are created to provide customized, non-traditional finite insurance and reinsurance products to European customers.
- ACE and Huatai Insurance Company of China announce a strategic partnership that will allow both companies to jointly develop new products and services for delivery nationally in China.
- ACE Bermuda and Freisenbruch-Meyer Group partner to form a new Bermudian insurance company—Freisenbruch-Meyer Insurance Services Ltd. (FMISL)—to write insurance coverage for the domestic Bermuda market.
- ACE European Group opens its new headquarters in London, England.
- ACE Limited changes its ticker symbol on the New York Stock Exchange from ACL to ACE.
- Sovereign Risk Insurance Ltd., a subsidiary of ACE Bermuda is elected to the International Union of Credit and Investment Insurers (the Berne Union) as one of only three private sector political risk insurers to be eligible and approved.
- In a partnership with Egypt-based Commercial International Investment Company (CIIC), ACE International acquires a 51 percent shareholding in Egyptian American Insurance Company (EAIC).
- ACE acquires the global property and casualty business of CIGNA Corporation for $3.45 billion, making ACE one of only a handful of truly international property and casualty insurance companies. With this acquisition, ACE inherits the rich history of the pioneering Insurance Company of North America (INA), which wrote its first policy in 1792.
- ACE acquires Capital Re Corporation, a company providing specialty reinsurance for financial guaranty insurance and other financial risks.
- ACE Global Markets is formed in London from ACE’s existing operations at Lloyd’s.
- ACE acquires Atlanta-based Westchester Specialty Group, Inc., a wholesale excess and surplus insurance group with origins tracing back to a fire insurer organized in Westchester County, New York, in 1837. The business became the first ACE USA (now ACE Westchester).
- ACE acquires CAT Limited, a property catastrophe reinsurance concern, and integrates it as part of ACE Tempest Re.
- ACE Limited acquires Tarquin plc, holding company for another Lloyd's managing agency, now ACE Underwriting Agencies Limited.
- ACE Bermuda forms Sovereign Risk Insurance Ltd. a specialized Bermuda-based political risk insurance and reinsurance underwriter, with strategic partners XL Insurance Company, Ltd. and Risk Capital Re.
- ACE Insurance Company Europe Limited, now ACE Bermuda International Insurance (Ireland) Limited (ACE Bermuda International), is incorporated and licensed to underwrite all classes of non-life insurance in the European Union.
- ACE Limited acquires Tempest Reinsurance Company Ltd., now ACE Tempest Reinsurance Ltd. (ACE Tempest Re Bermuda), a leading Bermuda-based catastrophe reinsurance company.
- ACE Limited acquires the London-based Lloyd's managing agencies of Methuen Group Limited and Ockham Worldwide Holdings PLC.
- ACE Bermuda enters three more product lines, including excess property, transforming itself into a diversified catastrophic risk insurer.
- Brian Duperreault is named Chairman, President, and Chief Executive Officer of ACE Limited.
- ACE Limited opens a London Representative Office.
- ACE Bermuda enters satellite insurance, its first successful expansion beyond the original two business lines.
- ACE Limited successfully completes its initial public offering and is authorized for listing and trading on the New York Stock Exchange.
- Already the world's top insurer of excess D&O, ACE Bermuda expands into primary D&O with the acquisition of CODA.
- ACE Bermuda introduces a short-lived Executive Compensation Insurance (ECI) product.
- ACE surpasses $2 billion in assets and $300 million in net premiums written for the first time.
- Walter Scott is elected Chairman of the Board of Directors of ACE Limited.
- ACE Limited issues its first official mission statement, still the basis of its mission statement today.
- ACE develops the first issue of Directors & Officers: The ACE Report, an informative periodical that becomes ACE's most enduring and commended publication (other than its annual report).
- The first "ACE Building" opens at 30 Woodbourne Avenue, Hamilton, Bermuda.
- The first ACE logo is introduced.
- John Cox retires as Chairman.
- Walter Scott is elected President and Chief Executive Officer of ACE Limited.
- ACE Bermuda makes excess D&O available as a stand-alone product.
- A subsidiary of ACE Limited assumes management of Corporate Officers & Directors Assurance Ltd. (CODA), a specialist directors and officers liability insurance (D&O) underwriter.
- ACE hires 11 employees and opens it first office in Hamilton, Bermuda.
- John Cox is appointed ACE’s first Chairman, President, and Chief Executive Officer.
- ACE Bermuda writes its first insurance policy, in excess liability. It also offers excess directors and officers liability (D&O) as an endorsement to the excess liability policy.
- ACE Limited and American Casualty Excess Insurance Company Ltd., now ACE Bermuda Insurance Ltd. (ACE Bermuda), are incorporated in the Cayman Islands and establish headquarters in Hamilton, Bermuda.